Will the JKR takes over?

Last month, my husband called our developer asking the progress of our apartment. The one we bought almost 9 years ago. We have an on and off relationship with this particular developer. Just imagine after 9 longgggg years the answer that we got was that they are abandoning the project. The apartment as I see it is about 80% completed. They have sold the land adjacent to the apartment for 21 million dollars and yet they do not want to complete the project.

To their mind, completing the project will incur them losses. To me , this is business. You lose some and you gain some. If your overall business brings you profit, then a little loss is still okay. But no.. they do not want to incur any losses.
It is okay if their customers suffer losses but not them. I'm sure many buyers are in the same shoe as we are. How are we going to solve this? The banks expect us to pay the monthly installment, some of us still have to pay the rent of houses that we are staying in...for how long?

Will the government help us? Can we sue the developer for breach of contract? To me, these developers have the criminal intent to not complete the project. Hence can we sue them for criminal breach of contract? To blacklist them will be the least of their concern, since they will set up another company using a different name and have proxies who act on their behalf. Time and time again they will do this and nothing is done to punish them.

I have a suggestion.. do like the Chinese government do. These people will have to face the firing squad. I know it is harsh. But the lives of thousands also have been harsh due to their doings. And if you do not have any money to develop a project and complete them, by all means.. don't be in business. The JKR can take over the completion of all abandoned projects to help the purchasers. Instead of monitoring these developers, the JKR should develop and complete the projects. The government can liase with the banks to pay for the progresive payment and I'm sure the buyers will be grateful to the government. Any projects that have not been completed after lets say 6 years should be taken over by the government.

The funny thing is that most projects that have been abandoned are mostly low to medium cost projects. We hardly ever heard of expensive projects being abandoned... maybe a few that involved the vacant land. Please do something otherwise we will have imbalance in the social standing.. the poor becomes poorer and the rich becomes richer and richer.